KBRA Releases Research – CMBS Loan Performance Trends: July 2022

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NEW YORK–(BUSINESS WIRE)–#KBRA–KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2022 servicer reporting period. The delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities (CMBS) resumed its downward trajectory, falling 10 basis points (bps) from the prior month to 2.91%. The delinquency rate posted a 15-bp increase in June, which was only the second time it had risen since reaching a COVID-era peak of 8.2% in June 2020. As with the economic uncertainty created by the backdrop of high inflation and rising interest rates, we may not see clear trends in the delinquency rate for the next few months.

Caribbean News Global KBRA-logo-fullcolor-RGB-1 KBRA Releases Research – CMBS Loan Performance Trends: July 2022

Lodging (4.82%, -48 bps), retail (5.38%, -18 bps), and multifamily (1.09%, -16 bps) recorded the highest delinquency improvements, while mixed-use, office, and industrial each generated a monthly increase. A look at the combined percentage of delinquent and specially serviced loans shows that the rate also declined 6 bps to 4.58%. Lodging (6.95%) had the most significant month-over-month decrease (-96 bps), while retail (8.16%) increased 32 bps.

Click here to view the report.

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KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Contacts

Catherine Liu, Associate, CMBS Ratings Surveillance

+1 (646) 731-1313

catherine.liu@kbra.com

Roy Chun, Senior Managing Director, CMBS Ratings Surveillance

+1 (646) 731-2376

roy.chun@kbra.com

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Michele Patterson, Managing Director

+1 (646) 731-2397

michele.patterson@kbra.com